PropertyFox Neighbourhood Insights – April 2018

May 23, 2018 | All, Industry

We look back and share our insights of what the month of April brought in terms of property compared to March.

Gauteng VS Western Cape
Our percentage of interested buyers remained steady throughout the month of April when comparing it to the month of March, with potential buyers looking for homes mostly in the Gauteng Province and the Western Cape Province. The areas in Gauteng that showed the most interested buyers were Kempton Park and the Magaliesburg area.

The most interested buyers in the Western Cape were interested in buying homes in the Northern Suburbs’ Bellville and Parow, the Southern Suburbs’ Wynberg and the City Bowl which included Vredehoek and Tamboerskloof.

On the up and up!
We have also seen a significant increase in viewings in Durban North. The area first gained a lot of popularity in December 2017 and January 2018, but showed a decrease in popularity for a couple of months, but as soon as April showed up, the area sparked some renewed interest in potential buyers with the viewings showing an influx of 128%!

Other areas showing a great influx in viewings is the uranium mining town, Brakpan, and Sandown both located in the Gauteng Province. Brakpan increased by 126% and Sandown increased by 131% compared to March.

Offers to purchase and sales
Even though some areas in Gauteng that have shown a decrease in viewings for the month, offers to purchase within the Province have been growing month on month since January showing a 110% increase compared to March.

The percentage of accepted offers have gone up in the Gauteng area. Gauteng has seen a massive 152% increase in accepted offers in the month of April compared to the month of March.

Gauteng for the win!
February remains the month with the highest scheduled viewings overall this year, however March and April both remained high and were only a smidge behind February.

Gauteng overtook Western Cape in the number of viewings, offers presented to sellers and accepted offers for the month.

For new insights into how your property compares to active sales for your area, get in touch with our team, who will provide you with a super insightful, and free Property Valuation!

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